Today: The Dundee Securities Downgrades First Quantum Minerals Limited (FM) to Neutral

The Dundee Securities Downgrades First Quantum Minerals Limited (FM) to Neutral

First Quantum Minerals Limited (TSE:FM) was downgraded by stock analysts at Dundee Securities from a “buy” rating to a “neutral” rating in a report issued on Friday. They presently have a C$13.00 target price on the stock, down from their previous target price of C$14.00. Dundee Securities’ price target indicates a potential upside of 22.76% from the stock’s previous close.

FM has been the topic of a number of other research reports. CSFB set a C$10.00 price objective on shares of First Quantum Minerals Limited in a report on Thursday, June 30th. Berenberg Bank cut shares of First Quantum Minerals Limited from a “hold” rating to a “sell” rating and upped their price objective for the stock from C$5.50 to C$7.50 in a report on Friday, July 8th. Goldman Sachs Group Inc. upped their price objective on shares of First Quantum Minerals Limited from C$5.00 to C$5.50 and gave the stock a “sell” rating in a report on Tuesday, July 12th. National Bank Financial upped their price objective on shares of First Quantum Minerals Limited from C$14.00 to C$15.50 and gave the stock an “outperform” rating in a report on Monday, July 18th. Finally, TD Securities upgraded shares of First Quantum Minerals Limited from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$11.00 to C$13.50 in a report on Wednesday, July 20th. Five analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of C$10.20.

Shares of First Quantum Minerals Limited (TSE:FM) opened at 10.59 on Friday. The company’s market cap is $7.26 billion. First Quantum Minerals Limited has a 12-month low of $2.15 and a 12-month high of $12.34. The company has a 50 day moving average of $10.54 and a 200-day moving average of $9.72.

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